Wednesday, March 26, 2014

Refund anticipation loans are still available to taxpayers despite rumors and predictions from competing financial institutions

Many large credit unions, banks, and top financial executives have argued with lawmakers about refund anticipation loans (RALs). These companies want to make refund anticipation loans illegal because the fast cash alternatives that RALs offer ultimately hurt their businesses. Many financial executives have predicted that refund anticipation loans would be an illegal practice by 2014. Unfortunately for them, refund anticipation loans are not only still 100% legal, but the demand for this service is growing exponentially.

Refund anticipation loans are popular among low-to-middle class Americans, single-parents, and borrowers with bad credit

Refund anticipation loans are ideal for people who need (or want) their tax return cash faster than the IRS can process their returns. For example, if a taxpayer has filed his or her taxes and expects to get $700 back, he or she can apply for a refund anticipation loan for that amount. As of right now, most direct lenders are granting loans up to $1000.

Refund anticipation loans are here to stay

Despite rumors and reports, the fast cash loan industry and the popular refund anticipation loan are not going anywhere. There is no other industry that can offer the same services at the same rates. For more information on a refund anticipation loan from IncomeTaxAdvances.com, please click here.